The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
X & BLK triggered
Open Position Notes:
X triggered a buy today as it crossed up through my buy point at $29. The stock hesitated a bit and never got far from that area, ultimately finishing just a few cents shy of it. When I’m looking for breaks of horizontal levels (support/resistance), I like to see those levels cleared on day 1. In this case, however, it’s a descending trend line (which is at a lower level each day) and the stock was able to close above it. Volume also picked up with today’s advance in price, so I’m going to stick with my existing trade parameters heading into tomorrow’s session while waiting for some follow through.
BLK triggered a short sale today as it undercut the $190.50 level. A quick bounce was unable to find follow through, and the stock sold off late in the day to finish right near that level. Volume picked up with today’s decline in price, so we’ll see if that translates into some further weakness ahead. I’d like to see a test of last week’s lows in short order to really confirm that this is the lower high it appears to be.
Closed Positions:
No closed positions.
